Palantir Technologies Inc. $PLTR Holdings Boosted by Legacy Financial Strategies LLC

Key Points

• Legacy Financial Strategies LLC increased its stake in Palantir Technologies by 16.0% during the second quarter, owning 10,826 shares worth approximately $1.48 million.
• Palantir reported a 48.0% year-over-year increase in revenue, reaching $1 billion for the recent quarter, surpassing analyst expectations.
• Wall Street analysts have mixed ratings on Palantir, with an average target price of $138.28, while four analysts have rated it as a buy, and sixteen have a hold rating.

Legacy Financial Strategies LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 10,826 shares of the company's stock after buying an additional 1,497 shares during the quarter. Legacy Financial Strategies LLC's holdings in Palantir Technologies were worth $1,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Revolve Wealth Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $450,000. Bison Wealth LLC boosted its position in shares of Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after buying an additional 4,667 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Palantir Technologies in the fourth quarter worth about $11,655,000. Two Sigma Investments LP raised its stake in Palantir Technologies by 132.4% during the 4th quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock valued at $4,166,000 after purchasing an additional 31,383 shares during the period. Finally, Woodline Partners LP bought a new stake in Palantir Technologies in the 4th quarter worth approximately $9,634,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 3.1%

NASDAQ:PLTR traded up $5.42 on Friday, reaching $182.39. The stock had a trading volume of 108,970,930 shares, compared to its average volume of 60,474,068. The company has a 50-day moving average of $163.32 and a 200 day moving average of $129.92. The stock has a market cap of $432.69 billion, a P/E ratio of 607.99, a price-to-earnings-growth ratio of 9.97 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $35.71 and a 12-month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's revenue for the quarter was up 48.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,625,634 shares of company stock valued at $248,926,404. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Loop Capital increased their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and lifted their target price for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $138.28.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.